contra player from last week selling.. good time to buy on dip results out this week, will be much much better than last year due to 2011 year end Thailand flood
Another day of buying back its own shares. The company bought back 980,000 shares today compared to total traded volume of 1,805,000 shares. This daily buying by Duty Free has interesting implications
The Board of Directors (the “Board”) of Duty Free International Limited (the “Company”)
wishes to announce that it proposes to amend its Memorandum and Articles of
Association to, inter alia, take into account the changes to the Companies Act, Cap. 50,
in particular, the Companies (Amendment) Act 2005 and the prevailing rules of the
Singapore Exchange Securities Trading Limited (the “SGX-ST”) as set out in the Listing
Manual Section B: Rules of Catalist.
The proposed amendments to the Company’s Memorandum and Articles of Association
are subject to the approval of Shareholders by special resolution at an Extraordinary
General Meeting (the “EGM”) of the Company to be convened.
A circular containing, inter alia, details of the proposed amendments to the Memorandum
and Articles of Association of the Company, together with the Notice of EGM, will be
despatched to Shareholders in due course.
By Order of the Board
Lee Sze Siang
Executive Director
Date: 14 January 2013
Hey divads27, no dividend declared for 3Q. Were you expecting it?
1 interesting pt from the announcement is that the cumulative shares bought back of 7.5 million or so have been cancelled instead of being stored as treasury shares. This is interesting --- the company was not buying shares for stock options conversion or performance plan. They actually are taking the shares out of the market permanently! Now with Atlan holding 80% or so, the free float is shrinking which has interesting implications.
divads27, you are the guru on Duty Free. What are your thoughts on this?
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